Modern Smart Home Must-Haves in the Multifamily Space | #YajneshRai #01924991 #SangeetaRai #02026129


Modern Smart Home Must-Haves in the Multifamily Space

Smart home tech isn’t just for the single-family home. These systems and devices can improve property management, reduce cost and emissions and enhance the tenant experience.
Woman locking the door of her house using a home automation system

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Smart home tech in multifamily communities is quickly becoming a must-have for today’s discerning renter, and with good reason. The right technology can play a significant role in improving residents’ experiences and enhancing the ease of operations for onsite staff. But where to start? As apartment owners and operators consider which amenities to include—either for new builds or when retrofitting existing structures—they must consider what is going to enhance a resident’s experience the most and offer the most ROI.

Many of today’s easy-to-use tools improve the efficiency of property management. These modern conveniences also lend to a positive experience for tenants, providing them with more comfort and control. Smart home technology not only provides improvements that residents crave, but many tech solutions also come with the added benefit of reducing costs for the building owner and property manager.

Smart Access

Smart access begins with smart locks, which can be used in many ways and are appealing to owners, on-site staff and residents alike. These smart features provide a wealth of benefits for all:

Smart Locks Save Property Owners Money

Owners don’t have to worry about paying a locksmith to change out locks or keys between residents. Leasing agents no longer have the frustration that comes with finding the right key or fumbling with a pesky lockbox. And, in addition to saving significant time and money on key tracking systems that cost thousands of dollars, this eliminates physical keys getting lost, being replaced and keeping track of them as residents move in and out. Another benefit is that maintenance teams can work more efficiently and respond to maintenance requests faster.

Smart Locks Save On-Site Staff Time

At one point or another, on-site staff has had to help a resident who is locked out after hours. Smart locks eliminate this issue because residents can simply use their smartphones or enter their access code to unlock their units. For important safety tasks like annual fire inspections smart locks allow on-site to quickly access units with one-time codes. Management can also allow vendors like painters or carpet layers access to vacant units with these temporary codes, which is more secure.

Smart locks are also what make self-guided tours possible, freeing on-site staff to work smarter, not harder. Prospective renters can tour the unit whenever it’s convenient for them and property managers don’t have to plan their day around tours. Renters simply sign up, provide a copy of their IDs, then select the units they want to visit. Before the scheduled viewing, the prospect receives a unique access code to tour the property.

Smart Locks Provide Enhanced Security

Residents love how easy it is to use a smart lock and they have the added benefit of increased security. They can set their own passcodes and typically have access to their homes right from their smart phone. They no longer have to worry about whether they remembered to lock the door, because they can make sure they did—or lock their home—right from an app on their phones.

Many folks often need to share access with others when they are away such as dog walkers and house cleaners. The right smart lock can provide a special guest code for a secure way of offering resident unit access. Only persons with the right credentials get access to the unit.

Smart Locks are in-demand, which means renters will pay more for this amenity, making your property more competitive in the market. The increased retention rates and NOI drive up the value of your assets.


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